George Kurtz, CEO:

In Q2 alone, we transacted more than $600 million in deal value through cloud marketplaces, representing more than 30% year-over-year growth.

Marketplace is running at an annualized deal-value pace of more than $2.4B. Put this number near the company's $5.8B ARR and the scale becomes obvious.

All three hyperscaler marketplaces delivered a record Q2, proving Marketplace GTM muscle is portable.

It took CrowdStrike ~6 years to reach $1B on Amazon Web Services (AWS) Marketplace (now $1B+/year). It grew on Google Cloud 3X faster (see my previous analysis).

​Which brings us to Microsoft

CrowdStrike listed Falcon on Microsoft Marketplace this February.

5 months later: two 7-figure Falcon Flex transactions, including a net-new logo.

Despite competing with Microsoft Defender, CrowdStrike still found a route to major wins. Falcon purchases draw down existing MACC commitments — a competitor-owned marketplace works when the budget is already there and the field motion is strong.

Kurtz called it "opening a new addressable market." Zero to 7-figure deals in two quarters.​

Building partner leverage

CrowdStrike's GSI business grew ~50% YoY, almost 2X total revenue growth. GSIs are driving migration and transformation projects.

​CrowdStrike is also building a second ecosystem: Project QuiltWorks

CrowdStrike gives partners frontier AI models running on its own threat data. Partners use them to run security assessments inside their customers. The findings convert into remediation work the partner delivers — and Falcon licenses CrowdStrike sells.

25+ partners are in it - GSIs, hyperscalers, resellers, ISVs, distributors and MSPs. It generated a pipeline of ~$400M in contract value less than two quarters after launch.

​Kurtz: they're leveraging our platform in a partner-led motion and finding these vulnerabilities, understanding exposure, and then obviously working on remediation with some of the largest enterprises in the world. Of course, that leads to platform pull-through.

An excellent move - CrowdStrike is building its own AI ecosystem, not only joining someone else's.

On AI demand, CrowdStrike sampled its own endpoints to see how customers actually use agents: Claude usage up 400%+, custom agent usage up 100%+ in recent months.

The operating model:

• Marketplaces provide transaction rails

• Hyperscalers provide committed budget and reach

• GSIs expand the scope of work

• AI partners create new demand